TReDS helps MSMEs get their bills discounted at a competitive rate through an auction where multiple registered financiers can participate.
Platform application with sectoral inputs, knowledge sharing, e-marketplace for inter-MSME trade and seamlessly integrated banking.
In the wake of the Andhra Pradesh micro finance crisis in 2010, a Sub-Committee of the Central Board of the Reserve Bank was constituted to study issues in the MFI sector.
Bhiwandi once had more than 8 lakh power looms & the textile hub was a guaranteed source of income for many.
India has the market size and talent pool to make things happen and now investors are lining up with capital.
He urged PHD Chamber and entrepreneurs to contribute to the government’s “Waste to Wealth” mission.
Firm to use funds to build consumer lending business, digital platform.
Companies opting for 22% tax regime won’t be eligible for minimum alternate tax credit.
The group will have members from different government departments of the Centre and states, as well as from industry chambers, including the CII.
Finance Secretary Rajiv Kumar said 34 central PSUs have already spent Rs 48,077 crore till August.
Wadhwani Foundation will run acceleration programmes for SMEs, startups, entrepreneurship education and women startups.
Such a move would allow the companies to get funds to expand their business globally, bringing in more revenue for the country, while investors will get good returns on their investment, he said .
To ensure easy availability of finance, the Government offers the Micro Finance Programme wherein the security deposit of loans sought by MFIs and NGOs are financed by the Government.
MSMEs (Micro, Small & Medium Enterprises) are one of the largest employment generating sectors in India with over 6.3 crore enterprises that provide opportunities to over 110 million people.
The central bank has revised downward the FY20 GDP growth rate to 6.9% from 7% earlier after cutting the key lending rate four times in succession.
GlobalLinker estimates that the MoU will bring over 40,000 SMEs from Thailand & India on board the platform.
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